A “significant trend of avoidance” of Paris by international travellers ahead of the Paris 2024 Olympic Games has been noted by Air France-KLM, which also reveals a downturn in its revenues during the summer quarter.
In particular, the French airline expects to suffer a hit to its revenue of EUR 160-180 million for the period from June to August.
In an update on summer bookings it states: “Air France and Transavia France are currently facing pressure on their projected revenue per airline for the summer season due to the upcoming Olympic Games in Paris, with traffic to and from the French capital lagging behind other major European cities. International markets seem to be avoiding Paris.”
Similar trends are evident in hotel bookings, according to the French capital’s Tourism Commission’s forecasts.
“Travel between the city and other destinations is lower than the usual June-August average, as French residents appear to be postponing their holidays until after the Olympics or considering alternative travel plans,” Air France-KLM said.
“Travel to and from France is expected to normalise after the Olympics, with encouraging levels of demand forecast for the end of August and September. As a result, Air France-KLM currently estimates a negative impact on its forthcoming revenues in the order of EUR 160 million- EUR 180 million for the period from June to August 2024. This has no impact on our projected capacity at this stage. Further details will be provided during the group’s half-year results on 25 July,” the French carrier adds.
However, Eurostar expects up to two million passengers to travel to the Olympics, with peak travel days aligned with the opening and closing ceremonies – from 25 to 27 July and 10 to 12 August.
